Patterns and drivers of household income dynamics in Russia : The role of access to credit

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Title: Patterns and drivers of household income dynamics in Russia : The role of access to credit
ISBN: 978-952-323-327-0
Author: Perugini, Cristiano
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
ISSN: 1456-5889
Series year: 2020
Series number: 11/2020
Year of publication: 2020
Publication date: 7.5.2020
Pages: 41
Subject (yso): kotitaloudet (organisaatiot); tulot; tulonjako; luotot
Keywords: Bofit-kokoelma; Venäjä
JEL: D31; H81; J60; O15
Other keywords: income mobility; credit access; Russia; RLMS
Abstract: The microeconomic drivers of medium- and short-term income mobility in Russia over the period 1996–2016 are investigated using data from the Russian Longitudinal Monitoring Survey (RLMS). Focusing on the role of access to credit in triggering household income growth, the descriptive analysis suggests that high levels of mobility materialising in pro-poor patterns of growth may accompany Russia’s notoriously high levels of inequality. Controlling for other personal and household characteristics, the econometric model for drivers of income mobility indicates that access to credit boosts income mobility. Complementary empirical evidence suggests that this effect may unfold through channels related to the labour market and non-labour sources of income.
Table of contents: Abstract .. 4 1 Introduction .. 5 2 Related literature and working hypotheses .. 6 3 Data, samples and variables .. 9 4 Descriptive measures of short- and medium-run income mobility, 1996–2016 .. 12 5 Methodology .. 16 6 Results .. 18 6.1 Drivers of income mobility in Russia and the role of credit access .. 18 6.2 Possible channels through which credit affects mobility .. 22 7 Conclusions .. 26 References .. 28 Appendix .. 32

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